Page 23 - Rupee

Indian Rupee logs longest winning streak in six months amid Dollar weakness

The Rupee extended its gains to 1.08 per cent in March after seeing five consecutive months of decline

Rupee rises 10 paise to 86.71 against US dollar during early trade

The rupee appreciated 10 paise to 86.71 against the US dollar in early trade on Tuesday, tracking its Asian peers and supported by positive domestic equities. Forex traders said the sharp upside for the local unit was restricted as investors grappled with the potential economic impact of growing global trade concerns. At the interbank foreign exchange, the rupee opened at 86.71 against the greenback, up 10 paise from its previous close. On Monday, the rupee had appreciated 24 paise to close at 86.81 against the US dollar. Asian currencies gained slightly as CNH rose to 7.2338, IDR was at 16395 and KRW at 1445. Fears that US President Donald Trump's aggressive tariff policies could trigger a broader economic slowdown have undermined the greenback, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent higher at

Indian Rupee opens strong at 86.76/$ despite persistent FPI selling

The Reserve Bank of India (RBI) was a major dollar buyer yesterday, keeping the currency well within a range, while foreign Banks were major sellers

Rupee rises 25 paise to 86.80 against US dollar during early trade

The rupee appreciated 25 paise to 86.80 against the US dollar in early trade on Monday, as domestic equities opened on a higher note and Asian currencies continued to remain on the stronger side. Forex traders said the rupee could extend its gains in the near-term, as the dovish Fed expectation has pressured the greenback, further aiding the rupee's recovery. However, global risk sentiment and oil price movements will play a crucial role in determining the next leg of the rupee's trajectory. At the interbank foreign exchange, the rupee opened at 86.90 against the greenback, then gained some ground and touched 86.80 against the greenback, up 25 paise from its previous close. On Thursday, the rupee surged 17 paise to settle at 87.05 against the US dollar. Forex, stock markets were closed on Friday on the occasion of Holi festival. "The USD/INR pair is expected to trade within the 86.80-87.40 range in the near to medium-term. A breakout beyond this band could trigger an additional m

Indian Rupee opens stronger, trades below 87 mark as dollar extends fall

The Rupee extends its gains to over 0.7 per cent in March after seeing five consecutive months of decline

Meet Udaya Kumar, DMK leader's son whose ₹ symbol is dropped by DMK govt

The rupee (₹) symbol was introduced less than 15 years ago, chosen from thousands of designs. Incidentally, the design that was selected was created by the son of a former DMK MLA

Tamil Nadu drops official rupee symbol from state Budget amid language row

This marks the first time a state has rejected the national currency symbol, taking Tamil Nadu's resistance to the NEP to a new level

Rupee jumps 19 paise to 87.03 against US dollar during early trade

The rupee appreciated 19 paise to 87.03 against the US dollar in early trade on Thursday, buoyed by a favourable macroeconomic data that also led to a buying rush in domestic equity markets. According to forex analysts, escalated tariff tensions worldwide continued to fuel the foreign capital outflow, but a weaker American currency index and lower level of crude oil prices added strength to the local unit. At the interbank foreign exchange, the rupee opened stronger at 87.13 and touched a high of 87.03 against the greenback in early deals, registering a sharp gain of 19 paise from its previous closing level. The rupee settled 1 paisa lower at 87.22 against the US dollar on Wednesday, a day after logging a recovery of 10 paise on Tuesday as it pared the steep loss of 36 paise in the preceding session (Monday). Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.01 per cent at 103.57. Brent crude, the global o

Rupee trades almost flat with 1 paisa lower at 87.22 against US dollar

The rupee turned almost flat and traded with a marginal loss of 1 paisa at 87.22 against the US dollar in early trade on Wednesday amid volatile sentiment due to uncertainties over trade tariff. According to forex analysts, a strengthening American currency index and a recovery in crude oil prices also added pressure on the local unit, which was already weighed down due to selling in domestic equity and the continuous outflow of foreign capital. They said, market participants were also trading cautiously awaiting cues from macroeconomic data to be released in India and the US later in the day. At the interbank foreign exchange, the rupee opened at 87.24, tumbled to 87.32 and then gained to 87.22 against the greenback in early deals, trading 1 paisa lower from its previous closing level. The rupee ended 10 paise higher at 87.21 against the dollar on Tuesday, a day after losing 36 paise. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six ...

Rupee gains 1 paisa to 87.30 against US dollar during early trade

The rupee turned almost flat and gained 1 paisa to 87.30 against the US dollar in early trade on Tuesday on the back of weaker American currency and lower level of crude oil prices. However, volatile domestic equity markets amid fear of recession in the US and trade-related uncertainties impacted investor sentiment adversely, forex traders said. At the interbank foreign exchange, the rupee opened at 87.37, slipped to 87.39 and then slightly strengthened to 87.30 against the greenback in early deals, registering a gain of 1 paisa from its previous closing level. On Monday, the rupee sank 36 paise to close at 87.31 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.20 per cent at 103.75. Brent crude, the global oil benchmark, rose 0.01 per cent to USD 69.29 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex was trading 424.36 points, or 0.57 per cent, l

Rupee sees worst fall in 2 weeks to close at 87.34 against US dollar

The Indian unit was the worst-performing Asian currency on Monday. The rupee has depreciated by 4.5 per cent in the current financial year (2024-25)

Emerging Asian currencies dip with stocks as investors avoid risk

Risk aversion picked up across financial markets on Monday, with investors buying gold, the yen and the Swiss franc due to concerns the period of US economic strength may be ending

Rupee plunges 30 paise to 87.25 against US dollar during early trade

The rupee saw a steep plunge of 30 paise to 87.25 against the US dollar in early trade on Monday as the American currency started recovering from six-month low level while trade-related uncertainties weighed on investor sentiment. A subdued domestic equity market and uninterrupted outflow of foreign funds also put pressure on the local unit, though it found some support due to easing crude oil prices, forex traders said. At the interbank foreign exchange, the rupee opened weak at 87.24 amid intense volatility and touched the low of 87.34 before trading at 87.25 against the greenback in early deals, down 30 paise from its previous closing level. On Friday, the rupee appreciated 17 paise to close at 86.95 against the US dollar. The rupee had settled 6 paise lower at 87.12 against the US dollar on Thursday, snapping its three-session rally. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.03 per cent at ...

Indian firms ramp up long-term FX hedges on rupee swings, cheaper costs

The rise in hedging longer-tenor exposures follows a pickup in shorter duration hedges

Rupee falls 6 paise to 87.18 against US dollar during early trade

The rupee declined 6 paise to 87.18 against the US dollar in early trade on Friday, tracking lacklusture sentiment worldwide triggered by trade-related uncertainties and relentless outflow of foreign capital from domestic equities. However, weakening American currency index and lower level of crude oil prices helped the Indian currency prevent a sharp fall, forex traders said. At the interbank foreign exchange, the rupee opened at 87.13 and lost further to trade at 87.18 against the greenback in early deals, registering a depreciation of 6 paise from its previous closing level. Snapping its three-day rally, the rupee settled 6 paise lower at 87.12 against the US dollar on Thursday. It had gained 31 paise in the preceding three consecutive sessions. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.04 per cent at 103.99. Brent crude, the global oil benchmark, went up marginally by 0.20 per cent but stayed a

Rupee falls 5 paise to 87.11 against US dollar during early trade

The rupee failed to sustain its gaining momentum and fell 5 paise to 87.11 against the US dollar in early trade on Thursday as a lower American currency and crude oil prices failed to boost sentiment amid volatile equity markets and foreign funds outflow. The local currency found support initially amid the US move to delay implementation of higher tariffs on Canada and Mexico, forex traders said. Also, RBI's decision to infuse Rs 1.9 trillion liquidity into the banking system added strength to the domestic unit. However, they said, volatile equity markets played a spoilsport and pushed back the local unit to the negative territory. At the interbank foreign exchange, the rupee opened stronger at 86.96, went up to 86.88 but soon pared most of its gains and traded at 87.11 against the greenback, registering a loss of 5 paise from its previous closing level. The rupee settled 13 paise higher at 87.06 against the US dollar on Wednesday, the third straight day of gain. In the preceding t

Rupee records highest single day gain in three weeks; settles at 86.96

The dollar index dropped 0.6 per cent to 104.9, its lowest level since November 2024, amid concerns over the US growth outlook and uncertainty about the impact of trade tariffs on growth and inflation

Rupee rises 9 paise to 87.10 against US dollar during early trade

The rupee appreciated 9 paise to 87.10 against the US dollar in early trade on Wednesday, fuelled by the broad weakening of the US dollar and easing crude oil prices. Forex traders said US President Donald Trump's tariff escalation has set off a chain reaction in global markets, sending the dollar into a downward spiral. Rupee is expected to trade with a slight negative bias as fears of a prolonged trade war continue to grip the financial world, they said. At the interbank foreign exchange, the rupee opened at 87.18 against the greenback, then gained some ground and touched 87.10 against the greenback, up 9 paise from its previous close. On Tuesday, the rupee rebounded from initial losses and settled with a gain of 13 paise at 87.19 against the US dollar. "The rupee traded in a narrow range, caught between global uncertainty driven by Trump factor. Moreover, persistent FII selling, with USD 128 million offloaded in the last session and total outflows nearing USD 12 billion this ye

Rupee falls 8 paise to 87.40 against US dollar during early trade

The rupee declined 8 paise to 87.40 against the US dollar in early trade on Tuesday, weighed down by persistent foreign fund outflows and a prevailing liquidity deficit. Forex traders said the ongoing uncertainty surrounding tariff imposition by the US has left financial markets in flux. Moreover, the tariff chaos has injected volatility and uncertainty into the US Dollar Index. At the interbank foreign exchange, the rupee opened at 87.38, then fell to 87.40 against the American currency, registering a decline of 8 paise over its previous close. On Monday, the rupee settled with a gain of 5 paise at 87.32 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 106.61, lower by 0.12 per cent, amid escalating trade tensions, which have been triggered by US. President Donald Trump's renewed tariff policies. Brent crude, the global oil benchmark, quoted 0.63 per cent lower at USD 71.17 per barrel in futures

PayPal-backed Mintoak strikes India's 1st e-rupee deal, worth $3.5 mn

PayPal and HDFC Bank backed Mintoak has completed the acquisition of Digiledge, which specialises in CBDC and bill payments services